STR (Smith Travel Research)

We started with a simple goal: Make hotels 'work' better.

Randy Smith began studying and analyzing the lodging industry more than 25 years ago. With a strong background in research and a keen interest in technology, Smith had an idea: create a service that provides the best information on overall performance trends in the lodging industry to the lodging industry and its observers.

STR's initial concept was to create a complete list of all properties in the United States and provide that list to suppliers in order to create districts and territories for their sales staff. And the company has remained dedicated to that concept for more than a quarter of a century.

Reaching goals. Making hotels work better.

The promise? Absolute confidentiality. After legitimizing his goal, Smith created a database that tracked the performance of individual properties and compared them with the competition. With the support of a few key chains, STR launched the STAR program in January 1988. The STAR program has become the source of information for chains and management companies. Smith has always maintained that the data would only be used in generating aggregate reports. Along the way, lenders, appraisers, consultants and developers began using STR's aggregate data to assist in the performance of their jobs.